First Citizens BancShares Inc. (NASDAQ:FCNCA) President Peter M. Bristow sold 9,545 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $472.00, for a total value of $4,505,240.00. Following the transaction, the president now owns 6,737 shares in the company, valued at $3,179,864. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NASDAQ FCNCA traded up $4.19 during trading on Friday, reaching $481.96. 1,794 shares of the company traded hands, compared to its average volume of 40,805. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50 day moving average price is $447.71 and its two-hundred day moving average price is $439.28. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 12.42 and a beta of 1.17. First Citizens BancShares Inc. has a 1-year low of $355.18 and a 1-year high of $477.95.
First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Tuesday, July 30th. The bank reported $10.56 earnings per share for the quarter. The company had revenue of $434.22 million for the quarter. First Citizens BancShares had a return on equity of 12.42% and a net margin of 25.38%.
FCNCA has been the topic of several research reports. BidaskClub upgraded First Citizens BancShares from a “hold” rating to a “buy” rating in a research note on Thursday. ValuEngine lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can boosted its holdings in First Citizens BancShares by 5.0% during the first quarter. Great West Life Assurance Co. Can now owns 160,541 shares of the bank’s stock valued at $65,153,000 after purchasing an additional 7,665 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of First Citizens BancShares by 7.0% in the 2nd quarter. Wells Fargo & Company MN now owns 158,786 shares of the bank’s stock worth $71,496,000 after acquiring an additional 10,371 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of First Citizens BancShares by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 92,838 shares of the bank’s stock worth $35,004,000 after acquiring an additional 4,602 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of First Citizens BancShares by 14.7% in the 2nd quarter. AQR Capital Management LLC now owns 52,664 shares of the bank’s stock worth $23,713,000 after acquiring an additional 6,759 shares in the last quarter. Finally, Eaton Vance Management acquired a new position in shares of First Citizens BancShares in the 2nd quarter worth approximately $14,955,000. 44.29% of the stock is currently owned by institutional investors.
First Citizens BancShares Company Profile
First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides banking services to retail and commercial customers. Its deposit products include checking, savings, money market and time deposit accounts. The company's loan products portfolio comprises commercial construction and land development, commercial mortgage, commercial and industrial, lease financing, and other commercial real estate loans; and noncommercial construction and land development, residential mortgage, revolving mortgage, consumer loans, and construction and land development loans.
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